SLM Corporation (NASDAQ:SLM – Get Free Report)’s share price reached a new 52-week low during trading on Wednesday. The stock traded as low as $17.69 and last traded at $17.6390, with a volume of 2,366,247 shares changing hands. The stock had previously closed at $18.77.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. TD Cowen lowered their price target on SLM from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Morgan Stanley lowered their target price on SLM from $30.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. JPMorgan Chase & Co. lowered their price objective on shares of SLM from $25.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, October 12th. Royal Bank Of Canada reduced their target price on shares of SLM from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, October 23rd. Finally, Wells Fargo & Company reduced their price objective on SLM from $28.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.44.
Check Out Our Latest Report on SLM
SLM Stock Down 7.3%
The business’s 50 day simple moving average is $24.14 and its 200 day simple moving average is $23.73. The company has a current ratio of 1.23, a quick ratio of 1.16 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $3.18 billion, a PE ratio of 6.35, a PEG ratio of 2.07 and a beta of 0.96.
SLM (NASDAQ:SLM – Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The credit services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.36). SLM had a return on equity of 26.34% and a net margin of 20.43%. The firm had revenue of $375.47 million for the quarter, compared to analysts’ expectations of $453.34 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down 31.3% compared to the same quarter last year. On average, equities research analysts forecast that SLM Corporation will post 2.00 earnings per share for the current year.
SLM Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, December 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.0%. SLM’s dividend payout ratio (DPR) is currently 18.84%.
Hedge Funds Weigh In On SLM
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of SLM during the 2nd quarter worth approximately $455,576,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of SLM in the second quarter valued at about $169,136,000. Azora Capital LP purchased a new position in SLM during the 2nd quarter worth approximately $97,917,000. Bank of New York Mellon Corp acquired a new position in SLM during the second quarter valued at $39,251,000. Finally, Bank of America Corp DE acquired a new stake in SLM during the second quarter worth about $37,268,000. 98.94% of the stock is currently owned by institutional investors.
SLM Company Profile
SLM Corp., commonly known as Sallie Mae, is a financial services company focused on helping students and families finance higher education. Its primary business is the origination and servicing of private education loans, which can help cover tuition, fees, books, housing and other eligible education-related expenses not fully covered by federal student aid.
The company offers private student loans for undergraduate and graduate education, as well as loans for career-training programs and other education needs.
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